Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Constellation Brands did not rally more than 8% after its latest quarterly report simply because it beat sales and earnings expectations.</li><li>The bigger signal was buried inside management’s commentary: the company is starting to see early signs that its core Hispanic beer consumer is buying again after an extended stretch of pressure tied to affordability concerns, softer social occasions, and a cautious spending backdrop.</li><li>That matters because roughly half of the company’s beer business is tied to Hispanic consumers, making recent brand and regional trends unusually important as a read-through on U.S. consumer health within a key demographic.</li></ul>

Constellation Brands did not rally more than 8% after its latest quarterly report simply because it beat sales and earnings expectations.The bigger signal was buried inside management’s commentary: the company is starting to see early signs that its core Hispanic beer consumer is buying again after an extended stretch of pressure tied to affordability concerns, softer social occasions, and a cautious spending backdrop.That matters because roughly half of the company’s beer business is tied to Hispanic consumers, making recent brand and regional trends unusually important as a read-through on U.S. consumer health within a key demographic.

Constellation Brands Isn’t Just Selling Beer—It’s Tracking A Key U.S. Demographic!

<ul><li>Constellation Brands presented its Q3 earnings for fiscal year 2026 with a performance overshadowed by both strengths and challenges.</li><li>The company is facing a tough macroeconomic environment, evident from the sustained impact on its Hispanic consumer base, contributing significantly to the struggles in their beer segment.</li><li>In terms of financial performance, Constellation Brands managed to deliver stronger-than-expected operational margins in its beer business for the quarter, despite facing volume deleverage.</li></ul>

Constellation Brands presented its Q3 earnings for fiscal year 2026 with a performance overshadowed by both strengths and challenges.The company is facing a tough macroeconomic environment, evident from the sustained impact on its Hispanic consumer base, contributing significantly to the struggles in their beer segment.In terms of financial performance, Constellation Brands managed to deliver stronger-than-expected operational margins in its beer business for the quarter, despite facing volume deleverage.

Constellation Brands: How a Bold CapEx Bet Could Rewrite Its Beer Growth Story!

<ul><li>Constellation Brands' recent earnings call offers a comprehensive view of the company's current market position and strategic outlook, particularly within its beer segment.</li><li>The call details several crucial elements influencing the company's performance, notably the macroeconomic and demographic factors impacting their primary consumer base.</li><li>One of the key challenges highlighted was the impact of macroeconomic conditions on consumer sentiment, particularly among Hispanic consumers who represent a significant portion of Constellation Brands' market.</li></ul>

Constellation Brands' recent earnings call offers a comprehensive view of the company's current market position and strategic outlook, particularly within its beer segment.The call details several crucial elements influencing the company's performance, notably the macroeconomic and demographic factors impacting their primary consumer base.One of the key challenges highlighted was the impact of macroeconomic conditions on consumer sentiment, particularly among Hispanic consumers who represent a significant portion of Constellation Brands' market.

Constellation Brands’ Multi-Pack Strategy: Can Price Flexibility Capture Every Consumer?

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Financial Select Sector SPDR F / Technical Analysis

<ul>
<li>We will stay near-term bullish as long as crucial support levels of 6780-6824 on SPX and $255-$257 on IWM continue to hold. With that said, we continue to see deterioration...</li>
<li>...in market dynamics that has us concerned of a deeper pullback, potentially to 6720-6776, 6690, or 6480-6520 on SPX, but 6780-6824 support would need to break first</li>
<li>Financials (XLF) and Discretionary (XLY) are violating crucial price and RS supports, and we are downgrading both Sectors to underweight</li>
</ul>


We will stay near-term bullish as long as crucial support levels of 6780-6824 on SPX and $255-$257 on IWM continue to hold. With that said, we continue to see deterioration...
...in market dynamics that has us concerned of a deeper pullback, potentially to 6720-6776, 6690, or 6480-6520 on SPX, but 6780-6824 support would need to break first
Financials (XLF) and Discretionary (XLY) are violating crucial price and RS supports, and we are downgrading both Sectors to underweight


Defensives Still Leading; Deeper Pullback?; Downgrading Financials and Discretionary to Underweight

Providing investors with a balanced perspective, Massif Capital

Massif Capital Research

Providing investors with a balanced perspective

Massif Capital

Research focused on providing investors with a balanced perspective on the environmental and economic realities of achieving a carbon-neutral economy for businesses within the Energy, Basic Materials and Industrial industries.

The Massif Capital Real Asset Strategy is a global long/short equity strategy built around bottom-up stock picking. We are focused on creating a portfolio of businesses from within the Energy, Basic Materials and Industrial sectors that balance the environmental and economic realities of achieving a carbon-neutral economy.

Thematic (Sector/Industry)

<div><p>This is the first edition of the Real Asset Chartbook.</p><p>This document arose from an internal need at Massif Capital to consolidate and streamline our process of monitoring liquid real asset markets. It remains a work in progress but is extremely useful in its present state. </p></div><div><p>The Chartbook will be released weekly, on Fridays, after the market closes.</p></div>

This is the first edition of the Real Asset Chartbook.This document arose from an internal need at Massif Capital to consolidate and streamline our process of monitoring liquid real asset markets. It remains a work in progress but is extremely useful in its present state. The Chartbook will be released weekly, on Fridays, after the market closes.

United States

Constellation Brands, Inc. produces and markets alcoholic beverages in North America, Europe, and Australia, and New Zealand. The Company has a portfolio of brands across the wine, imported beer, and distilled spirits categories. Constellation conducts its business through wholly owned subsidiaries as well as through a variety of joint ventures with various other entities.

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Constellation Brands (STZ US)

Constellation Brands Isn’t Just Selling Beer—It’s Tracking A Key U.S. Demographic!

Constellation Brands did not rally more than 8% after its latest quarterly report simply because it beat sales and earnings expectations. The...

Baptista Research

Constellation Brands: How a Bold CapEx Bet Could Rewrite Its Beer Growth Story!

Constellation Brands presented its Q3 earnings for fiscal year 2026 with a performance overshadowed by both strengths and challenges. The company...

Baptista Research

Constellation Brands’ Multi-Pack Strategy: Can Price Flexibility Capture Every Consumer?

Constellation Brands' recent earnings call offers a comprehensive view of the company's current market position and strategic outlook,...

Baptista Research

Defensives Still Leading; Deeper Pullback?; Downgrading Financials and Discretionary to Underweight

Defensives Still Leading; Deeper Pullback Coming?; Downgrading Financials $XLF and Discretionary $XLY $XRT to Underweight. Crucial support levels...

Vermilion Research

Real Asset Chartbook: The First Edition

This is the first edition of the Real Asset Chartbook. This document arose from an internal need at Massif Capital to consolidate and streamline...

Massif Capital Research

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